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2� 1 ���594
<br /> �EED �F TRUST
<br /> �C�r1t�t�u�d} Page 3
<br /> Property in an am�unt sufficien� to a�vid applicativn af any coinsurance clause, and w�th a standard mvrtgagee
<br /> clause in fa�vr of Lender. Trustor shall also procure and maintain comprehensive general liability insurance in such
<br /> ca�erage amounts as Lender may request with Trust�e and Lender being named as addit�onal �nsureds in such
<br /> �iabi�ity insurance policies. Additior�ally, �'rustor shall rriain�a�n such other insuran�e, in�luding but nat Iimited to
<br /> hazard, business interrup�ion, and bailer insurance, as Lender may�easonably require. Pvlicies shall be vuritten in
<br /> form, amoun�s, �overages and has�s reasonab�y ac�eptable to Lender and issued by a campany or campan�es
<br /> �easanably acceptabi� to Lender. Trusfi�r, upon re�ues� of Lender, will deli�e� to Lende� fram time �o time the
<br /> policies vr certifcates �f insurance in form satisfactvey to Lender, including stipulations�hat coverages wi�l nvt be
<br /> cance�led or diminished with�ut at least thirty �34} days p�iar written natice to Lender. Ea�h insurance pv�icy alsa
<br /> shall include an endarsem�nt pro�iding that caverage in fa�vr vf L�nder will nvt be impaired in any way by any a�t,
<br /> amission or defaulfi vf Trustvr or any�ther person. Shou�d the Real Prvperty be iocated in an area designated by
<br /> the Adminisfra�or of the Fede�r�f Emergency Managemen�Agency as a sRecia!fl�od hazard area, Trus�ar agrees to
<br /> obtain and maintain Federal Ffood Insurance, if available, for the fu!! unpaid principal baiance of the �aan and�any
<br /> prEor liens vn the property secu�ing the loan, up t❑ �he maximum policy limits set under the National F�ood
<br /> Insurance Program,vr a�❑therwise required by Lender,and tv main�ain such insurance for the term afi the loan.
<br /> Appli�atian of Proceeds. Trustvr sha�1 prvmptly nvti�Fy Lender af any loss o�damage to�he Properiy. Lender may
<br /> make prvvf af Io�s if Trustar fails t� dv sv wi�hin ffteen �15} days of the casual�y. Whether or nvt Lende�'s
<br /> security is impaEred, Lender may, at Lender's electivn, recei�e and re�ain the pr�ceeds�f any insurance and apply
<br /> the proceeds ta �he reduct�on af�he Indeb#edness, payment a�any lien a�Fecting �he Property, or#he restoratian
<br /> and repair of fihe Property. If Lender elects�a apply the prviceeds ta restoration and repair, Trustor shall �epair or
<br /> replace the damaged ❑r destroyed lmpro�em�nts in a manner satisfactory to Lender. LendeX shall, upon
<br /> satisfactQry praof o� such expendi�ure, pay ar reimaurse Trustor from th� proceed� �or �he reasanak�{e cos� of
<br /> repair vr restaratian i� Trustor �s not in default under �his Deed of Trust. Any p�viceeds whi�h ha�e nat been
<br /> disbursed within 1 SD days after�heir re�eip� and which Len�er has not committed ta fhe repair or restorativn o�
<br /> the PrQperty shall be used firs�to pay any amount owing to Lende�-under this �eed af Trust,then �a pay accrued
<br /> interes�, and the remainder, �f any, shall be applied �a the principal balance af the lndebtedness. 1� Lender halds
<br /> any praceeds after paymen� in full af the Indebtedness, such prace�ds shail �e paid to Trustar as Trustvr's
<br /> interests may appear.
<br /> Gompl�ance wi#h Existing lndebte�ness. Quring th� periad �n wh�ch any E�isting �ndebtedness des�ribed belvw is
<br /> in e�fect, compliance w�th the insurance pra�isions �onta�ned in th� instrumen� evidencing such Exis�ing
<br /> Indebtedness shall constitute �omp[iance wFth the insurance pro�isivr�s under �his Deed af Trust, tv �he ex�ent
<br /> compiiance with the terms af this Deed of Trust would cons��tute a duplicatian vf insurance requiremen#. If any
<br /> pr�ceeds from the insurance be�ome payable on loss, the prv�isions in th�s Deed of Trust for divisivn of proceeds
<br /> sha��appiy only ta that portian vf the proceeds not payabie�a the holder v�the Existing Indebtedn�ss.
<br /> Trustor's Report on lnsuranGe. Upvn request af Lender, however not more than on�e a year, Trustar shall�Furnish
<br /> ta Lender a report vn each existing po�icy vf insurance shovuing: �'�} the name of the insurer; �2} the risks
<br /> insured; �3} the amaunt af the policy; �4} the property insured, th� then current replac�ment value vf such
<br /> prop�rky, and the manner a�det�rmining�ha��alue; and �5} the expiration date of�he policy. Trustvr shall, upon
<br /> reque�t of Lender, have an independent appraiser satisf�Gtory to Lender det�rmine�he cash value replacement Gast
<br /> vf the Property.
<br /> LENDER'S EXpENDITURES. ��any action or proceeding is oammenced�hat would materially afFect Lender's interest in
<br /> the Property or i�Trustor fai�s to cvmply wi�h any prv�ision a�this Deed of Trusf vr any Related Documents, includFng
<br /> bu� nvt limi�ed tv Trustor's failure�a comply with any obliga�ion�v maint�in Existing lndeb�edness in good standing as
<br /> required be�aw,or to discharge vr pay when due any amounts Trustvr is required to discharge or pay under�his Deed of
<br /> T�ust or any Related Documents, Lender on Trustor's behalf may �but shall not be obligated to}take any action �hat
<br /> Lender deems appropriate, �ncluding �ut nofi limite� ta discharging or paying �I1 �axes, liens, securi�y interests,
<br /> encumbrances and o#her �[aims, at any tim� le�ied �r pfaced on the Prop�r[y and paying al� costs �or insuring,
<br /> maintaining and preserving the ProperLy. All such expenditures incurred or paid by Lend�r for such purpvses wil! #hen
<br /> bear interest at the rate charged under the Note from the date incurred ar paid by Lender t❑the date of repayrr�nt by
<br /> Trustor. Af� such expenses wi I� became a part of the Indebte�iness �nd, at Lender's optivn, wi I� �A} f� payable on
<br /> demand; (B} be added to the balance o�the Note and b� apportioned among and be payable wi#h any ins�allment
<br /> payments ta b�came due during either �'I} �he term af any applicable insurance pol�cy; ❑r �2� the remaining term o�
<br /> the Note; or �G} be treated as a balioan payment wh�ch wi�l be due and payable at the Nvte's r�aturity. The Deed of
<br /> Trust also wi[I secure payment af these amvun�s. Such righ� shaii be in addition fio all ather righ�s and remedies to
<br /> wh��h Lender may be entitled upan Default.
<br /> WARRANTY; DEFENSE�F TITLE. The f�llvwing pra�isians relating tv ownership of the Property are a part of this Deed
<br /> afi Trust:
<br /> Title. Trustar warrants tha�: �a�Trustor hvlds gand and marketab�e title of record ta �he Property in fee simple,
<br /> free and clear o�al� liens and encumbrances other than thase se�for�h in the Real Property description �r in the
<br /> Existing [ndebtedn�ss section he�ow or in any title insurance policy, title report, or fnal �itle ❑p�nion issued in fa�or
<br /> o�, and ac�epted by, Lender in conne�tian w�th �his �eed vf Trust, and �b}Trust�r has�he full right, pawer, and
<br /> autharity ta execute and deliver fihis Deed o€Trust fiv Lend��-. �
<br /> Qefense of TitIe. 5ub�ect to the excep�ion in the paragraph ab��e, Trusfior wa�rants and wili forever defend the
<br /> titie �o�he Property against the lawful claims of alI pe�svns. In the event any action or pro�eed�ng is�ommenced
<br /> that qu�stions T�ustar's tit�e ❑r�he interest o�Trustee❑r Lender under this ❑eed vf Trust,Yrustor sha�l defend the
<br /> act��n at Trustor's expense. Trustor may be the n�rn�na� par�y in such proceeding; but Lender shalf b�entitled tv
<br /> participa�e in the prviceed�ng and ta be represented in the proceeding by counsel Qf Lender's own ch�ice, and
<br /> Trustor will de�i�er, vr cause to be de�i�ered,t❑ Lender such �nstruments as Lender may request f�rom time to �ime
<br /> to permit such participation.
<br /> Camplian�e VVi�h L�v�rs. Trus�or warran#s �ha� �he Rroperty and Trustor's us� of the Praperty complies wi�h all
<br /> exis�ing appficab[e laws,ardinances,and regu�ations of governmental auth�rifies.
<br /> Survi�al c�f Represen�ativns and Vllarranties. r�ll rep�-esentations, warran�ies, and agreemenfs made by Trus�vr in
<br /> �his Deed of Trust shall sunrive the exe�ution and deli�ery of�his �eed of Trus�, sha�l be cantinuing in na�ure, and
<br /> shall remain in full farce and effect until su�h�ime as Trustor's Indebtedness sha[�be paid in full.
<br /> ��ISTING INDEBTEDNESS. Th��ollowing pro�isions concerning Existing �ndebtedness are a par�v�this Deed o�Trust:
<br /> Ex�sting Lien. The lien of this Deed af Trust securing the Indebtedness may be se�ondary and infieriar tv an
<br /> existing lien. Trustor expressly covenants and agre�s to pay, or see tv the payment of, the Existing Indebt�dn�ss
<br /> . and �� pre�ent any de#auli an such indebtedness, any default under th�instruments evidencing such indebtedness,
<br /> or any defaul�und�r any security documents�ar such indeb�edness.
<br /> No 1Vlodifica�ion. Trus�or shall not enter in�o any agreement with the holde� o� any mortgage, deed vf t�ust, or
<br /> other se�urity agreement which has priority o�er this �eed of Yrust by which tha� agr�emen� is modified,
<br /> amended, extended, ❑r renevued uvi�h�u# the pri�r written cansen� a� Lender. Trustor shal� n�ither request nor
<br /> acc�pt any fu�ure advances und�r any su�h security agreement withaut the priar written consent a�Lender.
<br /> C�NDEIVINATI�N. The following proWisions relating tv condemna�ion prvice�dings are a part of this Deed vf T�ust:
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